Chattanooga, TN – In partnership with the City of Chattanooga, Invest Chattanooga has released a Request for Information inviting developers, property owners, and prospective purchasers to present potential mixed-income multifamily projects. The opportunities may include either new construction or acquisitions, with a requirement that a portion of the housing remain affordable over the long term.
The Request for Information was issued to identify projects that could benefit from mission-aligned partnerships, where public financing tools are provided in return for commitments to affordability. By engaging the development community, Invest Chattanooga aims to learn what projects are in the pipeline and explore ways to support efforts that deliver both quality housing and lasting affordability.
Matt Bedsole, CEO and President of Invest Chattanooga, said the request is about understanding possibilities and determining where the organization can provide meaningful support. “We’re asking the development community to bring us ideas and opportunities that might not otherwise move forward,” Bedsole said. “This RFI is about learning what’s possible and exploring where our tools can make a meaningful difference in delivering high-quality housing that remains affordable over the long term.”
Available financing tools include below-market senior debt, low-cost construction financing, common equity, below-market mezzanine debt, property tax relief, and access to project-based rental assistance. According to Invest Chattanooga, these resources can help advance developments while ensuring meaningful affordability for residents.
The RFI outlines opportunities for new construction projects that are in pre-development or permit-ready stages, as well as acquisitions of well-maintained Class A or B multifamily properties that could incorporate long-term affordability through light or moderate renovations.
Mayor Tim Kelly said the city’s growth depends on affordable housing that serves all residents. “It’s important to fund affordable housing initiatives so Chattanooga’s growth works for everyone,” Kelly said. “By working together, we can create projects that not only deliver great mixed-income housing but also leave a positive mark on the city for decades to come. Now is the time for creative, committed partners to join us in shaping Chattanooga’s housing future.”
Responses to the request will be accepted on a rolling basis.